YouTube may have just announced a game-changer and advantage over its competitors.
According to a press release shared with AfroTech, the tech giant shared that it has created new ways for creators across the globe to generate money. During the inaugural Made on YouTube event, the expansion of the YouTube Partner Program (YPP) was introduced to attendees.
First things of order, the monetization system will be more accessible. Coming soon, YouTube Shorts-focused creators will be able to apply to YPP. What’s more, beginner YouTubers will have earlier access to features that tie to funding.
While making the announcement, Susan Wojcicki, CEO of YouTube, dropped the number of how much its creators have been paid before the new changes go into effect.
“The YouTube Partner Program was revolutionary when we launched it back in 2007, and it’s still revolutionary today,” she said, according to the press release. “Over the last three years, YouTube has paid creators, artists, and media companies more than $50 billion dollars. That $50 billion dollars has changed the lives of creators around the world and enabled new voices and stories to be told. But we’re not done yet. When we introduced the YouTube Partner Program, we made a big bet: we succeed only when our creators succeed. And today, we’re doubling down. We’re introducing the next chapter in how we reward creativity on our platform by expanding access to our YouTube Partner program.”
The great news for Shorts creators continues.
The press release discloses that the platform will “be moving away from a fixed fund and doubling down on a unique revenue sharing model for Shorts for both current and future YPP creators.” The creators are set to keep 45 percent of the revenue from the ads, which will also cover the costs of music licensing.
“YouTube’s first-of-its-kind, industry-leading Partner Program changed the game for long-form video,” said Neal Mohan, YouTube’s Chief Product Officer, in a statement. “And now we’re changing the game again, this time by opening it up to Short-form creators and introducing revenue sharing to Shorts. This is the first time revenue sharing is being offered for short-form video on any platform at scale, adding to the 10 ways creators can already earn revenue on YouTube. It’ll be available to all of those in YPP — including the new, mobile-first creators, who will be joining the program for the first time.”
In addition to supporting Shorts creators, YouTube aims to do the same for musicians with the launch of Creator Music. The new feature will allow for artists and music rights holders to earn a new revenue stream for their music on YouTube.
The official rollout of the expansion for creators will begin in early 2023.
